With a sweet spot in the mid-market, DLA Piper covers the main market of the London Stock Exchange and AIM. The firm advises on transfers between the London Stock Exchange’s markets and handles issuer and underwriter transactions, as well as equity funded M&A activity. Another key selling point for the practice is its London and EU-based US securities expertise. Alex Tamlyn spearheads the team and his experience includes corporate finance work, UK and international securities offerings, Class 1 acquisitions and disposals, schemes of arrangement and securities regulation. Key names in the team are Martin Penn, who handles a range of ECM transactions; and legal director Karin Kirschner, whose strengths are AIM and Main Market transactions.

Mid-market specialist Norton Rose Fulbright advises on the issuer and bank side of deals, with particular experience in the latter. The firm has an extensive global network and expertise across a range of sectors, notably the pharmaceuticals, REIT and real estate industries. The practice’s advice runs the gamut of equity and equity-related transactions, including FTSE 100, AIM and listed fund matters. Richard Sheen is a go-to name in the area and focuses on equity capital markets and investment funds work. Expert in IPOs, equity fund raisings and sponsor transactions Fiona Millington is recommended as ‘a safe pair of hands‘, and Clementine Hogarth is also active in the space - her fortes being ECM and corporate advisory work for public companies and investment banks. Raj Karia leads the group.

Focusing on mid-cap work, Stephenson Harwood is particularly active at the top end of the AIM market and its ‘excellent specialist knowledge’ includes funds and trading companies matters. Acting on the company and bank side, the firm handles a range of IPOs, secondaries and takeovers, notably the takeover of listed companies. The deep bench is led by AIM market expert Tom Nicholls and includes David Dowding, who advises corporates, investment banks and brokers on Main Market and AIM IPOs, secondary fundraisings and public takeovers.

Strong in the technology and financial services sectors, Travers Smith LLP provides ‘a strong partner led team, with a depth of knowledge across the group’. The firm’s ECM work includes assisting issuers, financial institutions, management, selling shareholders and cornerstone investors on IPOs, secondary issuances and other transactional matters. Head of corporate Spencer Summerfield co-leads the team with Andrew Gillen, who advises companies and underwriters on a range of ECM transactions. Notable in the area is Richard Spedding, who acts as underwriter or issuer counsel and is a stand-out name in mid-market investment bank matters in London. The broad team also includes Tom Coulter, who specialises in advising clients on public and private mergers, acquisitions and disposals, corporate joint ventures, IPOs and equity fundraisings; and Adrian West, who focuses on advising corporate issuers, investment banks and management teams on IPOs and secondary fundraisings on the Main Market and AIM.

Known for transactions involving AIM and Main Market listed companies, Addleshaw Goddard provides experience in acting for issuers, financial advisers, brokers, financial intermediaries and investors across a range of industry sectors. The firm is recommended for its ‘great technical expertise, especially in Takeover Code matters’. Private and public M&A specialist Nick Pearey leads the team that includes the ‘extremely diligent and pragmatic’ Giles Distin, who has ‘expert knowledge of the public market rules’. Distin focuses on transactions involving UK listed companies and advising on UK PLC regulation and compliance.

Known for its breadth of practice, Ashurst acts for issuers, shareholders and leading investment banks across a range of ECM transactions, notably de-mergers. The firm also has substantial US securities expertise. Nicholas Holmes is ‘one of the leading legal minds and legal voices in the London ECM market’. He co-leads the practice with Jennifer Schneck, who advises corporate clients and investment banks on global securities offerings; and Stuart Rubin, whose fortes are international equity capital markets and M&A transactions across Europe and Asia. Another notable name in the team is Simon Bullock, who is recommended as ‘very strong in UK capital markets‘.

‘Particularly dedicated partner’ Alexander Keepin leads the Bryan Cave Leighton Paisner LLP team and specialises in IPOs and secondary issuances on the Main Market and AIM. The ‘efficient, technically on point and very commercial’ practice is known for advising AIM listed clients and those looking to list on AIM. The firm provides global reach and notable expertise in the energy and natural resources sectors. Benjamin Lee is also recommended as ‘an extremely versatile adviser with the full range of skills across public markets and private M&A’.

Experienced in Main Market and AIM matters, Eversheds Sutherland (International) LLP handles IPOs, reverse takeovers, fundraisings, and public and private M&A for domestic and international clients. Cross-border work is a particular forte for the group, that can draw from a broad international footprint. Corporate specialist Richard Moulton co-leads the team with Stephen Nash, who focuses on equity capital markets and public company takeover transactions.

Specialising in the energy, natural resources and life sciences sectors, Fieldfisher handles IPOs/listings in the UK and Europe, secondary issuances and M&A deals involving listed companies. Practice head Brad Isaac has a particular focus on energy and natural resources mandates, as well as advising on ECM matters related to technology and life sciences companies, acting for issuers and brokers. Also active in the area is Edward Westhead, whose focus is the life sciences and healthcare sector, as well as advising on energy, natural resources and technology ECM deals.

Corporate finance partner Charles Bond leads the Gowling WLG practice and has particular expertise advising clients with assets in developed and emerging markets. His team handles Main Market and AIM transactions, acting for issuers and investment management houses as well as investment banks and brokers. The firm provides a full service in the area, drawing from its strengths in corporate, finance, tax, regulatory and dispute resolution. Notable specialisms include technology mandates, cross-border matters and advising mining companies listing on AIM.

Active at the top end of the AIM market, K&L Gates LLP has international expertise combined with particular strengths in the energy and technology sectors. The firm advises on the company side, as well as representing nomads and brokers across a range of ECM matters. Paul Tetlow leads the practice and ‘runs a commercial and good value ECM business’. He can call on the expertise of James Green, whose experience includes IPOs and secondary issuances, takeovers and M&A, domestically and internationally.

Experienced in IPOs, secondary offerings and public M&A, Osborne Clarke LLP provides broad expertise in the ECM space, a notable specialism being AIM transactions. The firm focuses on high-value listings and follow-on offerings for mid-sized public companies, investment banks and a range of nomads, sponsors and bookrunners. Sectors of particular activity for the practice span the financial services, technology, life sciences, renewable energy and real estate industries. Practice head Jonathan King is ‘a veteran of the UK small/mid cap ECM market’; his team includes senior associate Ed Nisbet, who is recommended for his ‘thorough knowledge of the fundraising process’ and ‘timely advice at every stage’.

Bird & Bird LLP’s experience runs the gamut of capital markets transactions across leading exchanges including the AIM market and the Main Market of the London Stock Exchange. The firm handles IPOs, secondary fundraisings, public and private takeovers and restructurings, advising on the company and bank side. Another key area of expertise for the practice is corporate governance and ESG related advice. Clive Hopewell spearheads the team and focuses on equity financings and IPOs, with particular strength advising on IPOs for companies already listed on a foreign stock exchange.

The ‘technically savvy and very knowledgeable’ Charles Russell Speechlys LLP ECM practice specialises in the property, oil and gas, financial services and technology sectors. The firm handles a range of matters, notably takeovers, and has longstanding relationships with advisers, brokers and AIM Market Nomads. Practice head Andrew Collins specialises in corporate advice and transactional work; his team includes Paul Arathoon, who acts on capital market transactions for issuers and brokers on the Main Market and AIM, including debt and other non-equity capital issuances.

Specialising in small-mid market IPOs and secondary fundraising work, Dentons’ experience spans a range of sectors, notably the technology and healthcare industries. The firm is particularly active in the AIM market, as well as advising US companies coming to the London Stock Exchange (LSE). Neil Nicholson leads the team and handles matters related to UKLA listing rules, the AIM rules of the LSE and the UK Takeover Code. Other key names in the practice include Darren Acres, who advises on UK and cross-border corporate finance transactions; and associate Verity Kent, whose forte is AIM market transactions.

Led by specialist in capital markets and M&A Michael Bennett, Hill Dickinson LLP’s ECM practice acts for issuers, nominated advisers, sponsors and brokers on Main Market, AIM and AQSE transactions. Cross-border work is a forte for the firm, which is particularly active in the pharmaceuticals and life sciences, medical cannabis, and energy and natural resources sectors.

Acting for issuers and underwriters, Hogan Lovells International LLP has experience in IPOs, secondary offerings, retail share offerings and the private placements of securities, as well as being active in privatisations, REITs and US public offering and private placements. Daniel Simons focuses on corporate transactions, particularly ECM matters and domestic and cross-border M&A. He co-leads the team with Jonathan Baird, Ben Garcia, Tom Brassington, Nicola Evans and Erik Jamieson.

Mayer Brown International LLP represents issuers, investment banks, sponsors, placement agents and selling shareholders across the spectrum of ECM matters. Notable areas of work include public offerings and private placements, stock exchange listings, rights offerings, spin-offs, share buy-backs and demergers. The firm has a strong track record advising on IPO transactions, alongside capital raising and block trades. ‘Stand-out‘ Kate Ball-Dodd leads the team and focuses on corporate finance, M&A, equity fund raisings, joint ventures and corporate governance work.

Focusing on handling ECM transactions for international companies, Memery Crystal (see also Rosenblatt) has expertise advising on listings on the Main Market and AIM, secondary fundraisings and dual listings. The firm’s sector strengths include the pharmaceuticals and life sciences, technology, natural resources and gaming industries, as well as a particular niche in the expanding cannabis market. Nick Davis is practice head and specialises in the cannabis, natural resources and technology sectors, with experience in London Stock Exchange and AIM transactions.

Experienced in acting on public market M&A transactions, Armstrong Teasdale has a track record in IPOs on AIM, with a focus on the natural resources, life sciences, retail, biotechnology, chemicals, e-commerce, financial services and technology sectors. Joan Yu leads the practice and handles AIM and LSE Main Market matters, as well as public takeovers and reverse takeovers. The team was boosted by the 2022 arrivals of Nick Heap from Bird & Bird LLP, who advises clients on Main Market, AIM and AQSE stock market matters; and Rashid Gaissin from KPMG Law in Kazakhstan, whose broad experience includes capital markets matters.

Recommended as ‘very experienced across a range of ECM transactions’, BDB Pitmans is known for advising sponsors, companies and directors in relation to IPOs, secondary fundraisings, the Takeover Code and other regulatory matters relating to public companies and the ECM. The firm has particular experience in AIM transactions. Philip Lamb leads the team that includes Nick McCarthy, who is ‘always available and strong on both detail and giving advice’.

Burges Salmon LLP acts for advisers, brokers and AIM companies on fundraisings and transactions, as well as providing advice in relation to regulatory and compliance issues. The firm’s experience includes public M&A, IPOs, secondary fundraisings, demergers and capital reorganisations. Corporate transactions specialist Nick Graves co-leads the team with Rupert Weston, who focuses on corporate finance work, advising on a range of equity market transactions.

Known for its expertise in the MENA region, notably Lebanon and Egypt, Dechert LLP handles equity transactions, IPOs in Egypt, and a range of advice in the life sciences sector. Sean Geraghty focuses on M&A, IPOs, secondary offerings, joint ventures and general corporate matters. He co-leads the team with Patrick Lyons, whose strengths include equity capital, debt capital and emerging markets work.

Druces LLP is experienced in secondary fundraisings, acquisitions and new IPOs across AQSE, AIM and the Main Market, acting for issuers, financial advisers, nominated advisers and brokers. Clients note that ‘the commerciality of the team matches its excellent legal abilities’. Practice head Dominic Traynor is ‘an exceptional legal adviser, both commercial and practical’.

Experienced in advising AIM companies and their advisers on a range of transactions, Edwin Coe LLP handles listings on the London Stock Exchange as well as other recognised investment exchanges, including Acquis Exchange. Key strengths for the practice include advising on compliance issues and securities legislation. Russel Shear is a go-to name in the area and is head of the firm’s corporate and commercial team.

Acting for domestic and overseas companies, nominated advisers and brokers, Fladgate LLP’s expertise covers flotations, reverse takeovers and secondary fundraisings. The firm has a track record in cross-border matters and, in addition to advising on AIM transactions, has experience with listings and offerings on the Aquis Exchange. David Robinson spearheads the practice and specialises in equity capital markets work and public company and private company M&A.

Fox Williams LLP combines experience in the equity financing of AIM transactions with a track record in public takeovers and private M&A, as well as regulatory and corporate governance advice. Notable expertise includes advising directors on AIM and FCA investigation and disciplinary proceedings. The firm’s ECM work focuses on the key sectors of financial services, natural resources and technology, particularly fintech. Richie Clark leads the team and specialises in AIM listings and fundraisings.

The Macfarlanes LLP ECM practice is co-led by Robert Boyle, who advises on a range of corporate transactions, particularly for listed clients; and Richard Burrows, whose experience covers capital markets transactions, public takeovers, private capital raisings and private acquisitions.

Mills & Reeve LLP stands out for its technology and life sciences expertise, advising companies in these sectors seeking admission to the capital markets and handling fundraising and general corporate and commercial work. Stephen Hamilton spearheads the practice and has experience in the London Stock Exchange’s Main Market and AIM, including fundraisings, IPOs, M&A and corporate restructuring matters.

Penningtons Manches Cooper LLP has experience in a range of ECM transactions, including Main Market and AIM IPOs, secondary transactions and AQSE secondary fundraisings. Seb Orton leads the team and focuses on IPOs, secondary fundraisings, M&A and assisting listed companies with corporate governance mandates.

Increasingly active on bank-side ECM instructions, Squire Patton Boggs handles a range of transactions across the energy, natural resources, technology, industrials and consumer sectors. Jane Haxby co-leads the team with Hannah Kendrick and both have expertise in M&A, fundraisings, takeovers and reorganisations.

Advising listed companies, investment banks, nomads and brokers, Watson Farley & Williams LLP has a track record in AIM-related matters, notably IPOs and related pre-IPO financing, secondary placings, rights issuances, takeovers, private placements and M&A, as well as corporate governance matters. The firm’s sector expertise lies in the transport, energy and natural resources industries. Practice head Chris Kilburn has particular experience in AIM transactions while corporate specialist Jan Mellmann covers the spectrum of capital markets advice.